overnment supersede avaricious man and blind nature in the
creation and distribution of money, in order that money may be a
stable purchasing power. Second, a determination that money shall no
longer be a commodity to be bought, and sold, and manipulated, a leech
upon labor in the hands of a few, but a convenience of trade,
accessible to the many at first cost. Third, a demand that the
misnamed national bank system of the present shall have its spirit of
greediness exorcised, so that it may hereafter serve the people
instead of its management. Are these ideas indefinite? Do they not
mean "money at cost"?
We would now call attention to those facts which the western farmer
says have opened his eyes, made him indifferent to the sneers of the
banking class and its servitors, and fixed him in his purpose to
effect a permanent change in the financial system of the country.
He says that the average profits of business enterprises in this
country do not exceed three per cent.; that money loaning at six and
seven per cent. of necessity congests the wealth of the nation; that
eighty cents' worth of silver, stamped by government as a dollar, or a
cent's worth of paper, bearing the same stamp, buys as much for him in
the markets of the country as a gold dollar; that it is easier for him
to pay his debts when money is plentiful; that the paper demand notes
of '62, a full legal tender, stood at par with gold while the
greenbacks, repudiated in terms by the very bill which created them,
went skyward; that a contraction of currency has preceded every
serious financial panic in the history of the country; that prosperity
for the laborer, the producer, and the debt-payer has always
accompanied currency expansion; that money loaners are strangely
interested in keeping money scarce, and for that purpose fought gold
in '50 when California and Australia threatened to flood us, the
greenback in Lincoln's administration, and silver in '73, '78, and
'91; that the farmer's products have been refused a market within a
year past because there was not money to handle them; that present
rates of interest consume him; and that, with good security to offer,
he is obliged to pay exorbitant rates for money and in many cases is
refused it altogether.
Let us remember that the last word has not yet been spoken upon the
financial question; that the world, even the financial world, has not
seen all of truth and wisdom yet; that reason is better than
a
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